The Mining industry forms the backbone of the Indian economy. It provides the basic raw materials for most of the other manufacturing industries.
It is a net exporter of finished steel . The production of finished steel in the country from April 2020 to January 2021 was recorded at 76.04 MT. The Steel Authority of India Limited (SAIL) reported a growth of 7% in its crude steel production during the year 2020.Indian Mines
India is endowed with huge resources of many metallic and non-metallic minerals. India is home to 1,531 operating mines and produces 95 minerals, which includes 4 fuels, 10 metallic, 23 non-metallic, 3 atomic and 55 minor minerals. he number of mines which reported mineral production in India stood at 1405 in the year 2020.Coal mining
India is the world’s second-largest coal producer and is the 5th largest country in terms of coal deposits. India has rich deposits of coal in the world. The total estimated reserves of coal in 2020 were 344.02 bn tonnes, an addition of 17.53 bn tonnes over 2019 in the corresponding period.The Covid Factor
The mining sector in India was poised for robust growth in financial year 2020–2021, on the back of rising demand from end-use sectors and fresh investments announced by the mining companies. However, the spread of COVID-19, right at the beginning of the financial year, has led to disruptions across industries.India’s mining sector expected to show positive growth in 2021 compared to 2020. The contribution of quarrying and mining sector to gross value added (GVA) (at current prices) of country was Rupees 1238.04 billion during the year 2020–2021 H1 (April–September) as compared to Rupees 1807.71 billion during the same period in year 2019–2020 H1 (April–September). As per available information, the contribution of mining and quarrying to all India gross value added (GVA) is 1.58% during the year 2020–2021 H1 (April–September) as compared to 2.02% reduced to about 32% in year 2019–2020 H1. Contribution of mining and quarrying sector in all India GVA during 2019–2020 and 2020–2021 H1 (April–September) is given in the Annexure I. During the period from April to September in FY 2020–2021, almost all the minerals show the downfall of production as compared to the corresponding period of last FY 2019–2020 except garnet During the period from April to September in FY 2020–2021, the total value of export of ore and minerals is Rs. 70,177 crore, declined by 30.65% as compared to Rs. 101,191 during the same period of FY 2019–2020, while the value of import of ore and mineral is also declined to Rs. 298,296 crore by 48.62% as compared to Rs. 580,548 during the same period of FY 2019–2020.